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20130106
20130114
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is republicaning off through the subdivision much faster. it's a dynamic environment and we're not arming people with the information and we're not arming people with the facts that they need to be purchasing flood insurance. >> and the other problem we have particularly with respect to insurance is not just flood insurance. we've had homeowners all across the region fighting with their insurance companies right now and we're finding people with insurance and who think they have the coverage to protect their home, forget about the flood insurance, in jn, wind damage or hurricane damage or content are finding that they either don't have -- their insurance company the not responding to them. that's a conic problem. most people are underinsured. it's an industry on people betting against themselves. you hope you never need it and the insurance companieses are not in the business of paying out claims and their goal is to keep the money you gave them. they don't want to pay it out and we're finding that people think they have a particular level of coverage but when you delve into their insurance poli
the submarine n that environment to have the largest insurance company in the world that had written savings protection contracts to thousands, hundreds of thousands of american households and to a bunch of state and local governments to have that inconstitution fail in that environment our judgment would have been catastrophic. >> all right. who's right? >> dishonesty of that statement we saw in the testimony from congress. aig was not saved to protect savings accounts. it was saved so that aig could make its payments that alexis would describe earlier. to the largest too big to fail bank that's made the reckless counter party bet risks on aig and the taxpayer was footing the bill. look, even tim geithner himself in some ways acknowledge that was an unfair thing when he authorized his people to negotiate with the banks to try to have a discount, not 100 cents on the dollar buying securities at a time were worth less than half that amount. it was a half hearted, you know, just terrible effort that it didn't go anywhere. >> we were talking about right before those clips the loss of faith in s
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